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CARROLS GROWS TO 177 RESTAURANTS IN TEN STATES

 CARROLS GROWS TO 177 RESTAURANTS IN TEN STATES
 SYRACUSE, N.Y., Oct. 9 /PRNewswire/ -- Carrols Corporation, Burger


King's largest franchisee, announced that it has acquired ten Burger King restaurants in Michigan from the Cain Restaurant Company.
 Alan Vituli, chairman and CEO of Carrols, stated that the acquisition is a part of the company's continuing plan for growth. Mr. Vituli added that Carrols had just completed both a refinancing with its senior lender and the sale of senior subordinated notes through World Subordinated Debt Partners, L.P., an affiliate of Citicorp Venture Capital Ltd., which together have expanded the company's available funds by $20 million. Mr. Vituli noted that "we have continually worked hard on both developing an efficient and effective infrastructure and the discipline to implement the system. Given our size, and the expectation and commitment of our people, we must grow in order to provide opportunity. These financings will contribute to the capital resources available to fund our acquisition and construction program. This is part of a series of moves which will help us maintain an aggressive build and buy program.
 Carrols now operates 177 Burger King restaurants in New York State, Ohio, North Carolina, Pennsylvania, New Jersey, New England and Michigan.
 -0- 10/9/92
 /CONTACT: Steven S. Pretsfelder of Baer Marks & Upham, 212-702-5730, for Carrols Corporation/ CO: Carrols Corporation; Cain Restaurant Company ST: New York, Michigan IN: LEI SU: TNM


AH-OS -- NY063 -- 8492 10/09/92 16:21 EDT
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Publication:PR Newswire
Date:Oct 9, 1992
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